Sticky People
“Jordan Van Schyndel started a service business with two other partners and eventually bought them out. He continued to grow his team of employees and did not have anyone quit. He then sold his business once he hit 30 employees,” shares Sam Thompson a Minneapolis business broker and the president of M&A firm Transitions In Business. “In this episode we’ll cover building a winning culture and how to tell your employees you’re selling.”
Jordan van Schyndel grew his service business to more than 30 employees without having anyone quit. He credits his unique culture for the loyalty of his team. Ultimately it was that team that caught the attention of Spiria, which offered to acquire van Schyndel’s business. In this episode, you’ll discover how to:
- Build a winning culture.
- Structure a deal with future upside.
- Calculate your minimum number.
- Structure an earnout.
- Tell your employees you’re thinking of selling.
- Avoid attaching your identity to your business.